Twilio sets revenue record in Q3

The cloud communications company surpassed $100 million in quarterly revenue for the first time.
Written by Stephanie Condon, Senior Writer

Image: Twilio.

Twilio published its third quarter financial results on Wednesday, beating Wall Street's revenue expectations and surpassing $100 million in quarterly sales for the first time.

The cloud-based communications company reported a non-GAAP net loss of 8 cents per share, based on 92.2 million weighted average shares outstanding in the third quarter. By comparison, in Q3 2016, the company reported a non-GAAP net loss of 4 cents per share based on 83.9 million weighted average shares outstanding.

Total revenue came to $100.5 million, up 41 percent year-over-year and up 5 percent sequentially.

Wall Street was expecting a net loss of 8 cents per share on revenue of $92.55 million.

Along with its record in revenues, CEO Jeff Lawson in a statement touted the company's other Q3 accomplishments, such as its first enterprise license agreement for our higher level software products. The company also launched its drag-and-drop visual editor Twilio Studio.

"With Twilio Studio, the visual builder for Twilio, we can accelerate our customers' roadmaps and help an even larger set of users build on our platform," Lawson said. "We are excited by the size, scale and diversity of what new and existing customers are creating with Twilio."

The company tallied 46,489 active customer accounts at the end of Q3, compared to 34,457 a year prior. The number of active customer accounts, according to Twilio, serves as an indicator of how the market is responding to its platform and future revenue trends.

For the current quarter, Twilio is giving an outlook of a non-GAAP net loss between 5 cents and 6 cents a share, on revenue between $102.5 million and $104 million. Analysts have been projecting revenue of $98.67 million.

Twilio's full fiscal year 2017 revenue guidance falls between $386 million and $388 million.

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